Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Hanx Biopharmaceuticals / Equity Capital Markets

<ul>
<li>Hanx Biopharm raised HKD 586m (USD 76m) from its global offering and will list on the Hong Kong Stock Exchange on Tuesday December 23, 2025.</li>
<li>In our previous note, we looked at the company's core products, management track records.</li>
<li>In this note, we provide an update for the IPO before trading debut.</li>
</ul>


Hanx Biopharm raised HKD 586m (USD 76m) from its global offering and will list on the Hong Kong Stock Exchange on Tuesday December 23, 2025.
In our previous note, we looked at the company's core products, management track records.
In this note, we provide an update for the IPO before trading debut.


Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 19th. We estimate that they had an aggregated short interest worth USD2.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Intouch, Bangchak, Ngern Tid Lor, CP Foods, Gulf Energy Development, Gulf Energy Development, Cp Foods, Bangchak.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 19th. We estimate that they had an aggregated short interest worth USD2.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Intouch, Bangchak, Ngern Tid Lor, CP Foods, Gulf Energy Development, Gulf Energy Development, Cp Foods, Bangchak.


Thailand Short Interest Weekly (Dec 19th): Intouch, Bangchak, Ngern Tid Lor, CP Foods

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Dec 19th. The aggregated short interest is USD461m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Guan Chong, VS Industry, Datasonic, Genting Malaysia, Yinson.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Dec 19th. The aggregated short interest is USD461m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Guan Chong, VS Industry, Datasonic, Genting Malaysia, Yinson.


Bursa Short Interest Weekly (Dec 19th): Guan Chong, VS Industry, Datasonic, Genting Malaysia, Yinson

<ul>
<li>B&amp;K raised HKD 674m (USD 87m) from its global offering and will list on the Hong Kong Stock Exchange on Monday December 22, 2025.</li>
<li>In our previous note, we looked at the company's core products, management track records.</li>
<li>In this note, we provide an update for the IPO before trading debut.</li>
</ul>


B&amp;K raised HKD 674m (USD 87m) from its global offering and will list on the Hong Kong Stock Exchange on Monday December 22, 2025.
In our previous note, we looked at the company's core products, management track records.
In this note, we provide an update for the IPO before trading debut.


B&K (华芢生物科技) IPO: Trading Updates

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 19th. The aggregated holding was USD1,328.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD4,695mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Quanta Computer, Winbond Electronics, Asustek Computer, Delta Electronics, TSMC, Quanta Computer, Winbond Electronics, Asustek Computer, Delta Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 19th. The aggregated holding was USD1,328.6bn.
We estimate that foreign flows to be outflows of USD4,695mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Quanta Computer, Winbond Electronics, Asustek Computer, Delta Electronics, TSMC, Quanta Computer, Winbond Electronics, Asustek Computer, Delta Electronics.


TWSE Foreign Holding Weekly (Dec 19th): TSMC, Quanta Computer, Winbond Electronics, Asustek Computer

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Ke Yan, CFA, FRM
Asia Pac IPO & Placement Research, China biotech
• Aequitas Research

Hanx Biopharm (翰思爱泰) IPO Trading

Hanx Biopharm will list on Hong Kong Stock Exchange on Dec 23rd after raising USD 76m in global offering. We update the deal dynamics before the...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Dec 19th): Intouch, Bangchak, Ngern Tid Lor, CP Foods

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch (INTUCH TB), Bangchak (BCP TB), Ngern Tid...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Dec 19th): Guan Chong, VS Industry, Datasonic, Genting Malaysia, Yinson

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Guan Chong, VS Industry, Datasonic,...

Ke Yan, CFA, FRM

B&K (华芢生物科技) IPO: Trading Updates

B&K raises $87m in global offering, set to list on HK Stock Exchange on Monday. Our valuation and assessment of the company suggests that the deal...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Dec 19th): TSMC, Quanta Computer, Winbond Electronics, Asustek Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Quanta Computer (2382 TT),...

Ke Yan, CFA, FRM

Hanx Biopharm (翰思爱泰) IPO Trading

​Hanx Biopharm will list on Hong Kong Stock Exchange on Dec 23rd after raising USD 76m in global offering. We update the deal dynamics before the...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Dec 19th): Intouch, Bangchak, Ngern Tid Lor, CP Foods

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch (INTUCH TB), Bangchak (BCP TB), Ngern Tid...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Dec 19th): Guan Chong, VS Industry, Datasonic, Genting Malaysia, Yinson

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Guan Chong, VS Industry, Datasonic,...

Ke Yan, CFA, FRM

B&K (华芢生物科技) IPO: Trading Updates

​B&K raises $87m in global offering, set to list on HK Stock Exchange on Monday. Our valuation and assessment of the company suggests that the deal...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Dec 19th): TSMC, Quanta Computer, Winbond Electronics, Asustek Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Quanta Computer (2382 TT),...

Ke Yan, CFA, FRM

Hanx Biopharm will list on Hong Kong Stock Exchange on Dec 23rd after raising USD 76m in global offering. We update the deal dynamics before the...

B&K raises $87m in global offering, set to list on HK Stock Exchange on Monday. Our valuation and assessment of the company suggests that the deal...